American Kleptocracy examines how the United States transformed into a global center for illicit finance. The book details how states like Delaware and Nevada perfected the art of anonymous shell companies, and how post-9/11 reforms led to a surge in illicit finance. It also explores how African despots, post-Soviet oligarchs, and other corrupt entities have dominated American industries and infiltrated universities, think tanks, and cultural centers. Michel argues that this system poses a significant threat to democracy and highlights efforts to restore America's anti-corruption leadership.
You may remember that we’ve talked about the Economist Intelligence Unit’s Democracy Index in the past on Do You Really Know, which assigns each of the world’s countries a score from one to ten based on how democratic they are.
But have you ever heard of a kleptocracy? It’s a phenomenon that can creep into democracies and drag down their scores. A kleptocracy is a political system where corruption and money laundering are rampant. Public funds are often syphoned off and hidden in tax havens, with the families and inner circles of those in power frequently benefiting from these large-scale thefts.
Is the “klepto” part similar to kleptomania? Where does this happen? Are Western democracies immune to all this? In under 3 minutes, we answer your questions!
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A podcast written and realised by Joseph Chance.
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